- Jul 17, 2006
- 3,990
- 6
- 81
So here goes, open enrollment is coming up and frankly I'm getting sick and tired for my 220 per pay period for my HDHP with HSA. It's pretty much shit insurance because it requires an 8K deductible to really do anything but still provides yearly physical visits etc...
However, some people I talk to in the insurance business say that this health care plan is awesome. They tout that if I properly contribute into the HSA (up to $6900 per year) that this 440 per month in premium costs is really 350 or so. I'm not understanding how it is.
Since Trump has removed the individual mandate, I'm looking at doing a Temporary Medical Plan which covers me in 3 month increments. Every 3 months I would reapply. It comes to only around 100 - 200 a month. So in total I would be saving thousands each year in medical premiums. The Temp Plan is much cheaper because it dosen't have to conform to ACA rules, so no maternity no pre-existing, no vaccination, no mental health etc... I get Vaccinations free from my work etc....
If I get sick to a point where I need med insurance I would simply use my employer as a fall back. I would lose coverage and use that to move in the middle of a plan year.
These insurance people keep telling me to put into my HSA and I can use my HSA as an IRA. In all honestly I have very little medical costs each year. The highest costs I've had was braces for my daughter where my dentist wanted 5K, I gave him my middle finger and I got invisiliners from Mexico for $1,500.
Is there some way to take out from the HSA w/o it being medical? Is there some "legal" way to pull from the HSA. Because that would be wonderful?
Someone explain this HSA tax-credit hack to me?
However, some people I talk to in the insurance business say that this health care plan is awesome. They tout that if I properly contribute into the HSA (up to $6900 per year) that this 440 per month in premium costs is really 350 or so. I'm not understanding how it is.
Since Trump has removed the individual mandate, I'm looking at doing a Temporary Medical Plan which covers me in 3 month increments. Every 3 months I would reapply. It comes to only around 100 - 200 a month. So in total I would be saving thousands each year in medical premiums. The Temp Plan is much cheaper because it dosen't have to conform to ACA rules, so no maternity no pre-existing, no vaccination, no mental health etc... I get Vaccinations free from my work etc....
If I get sick to a point where I need med insurance I would simply use my employer as a fall back. I would lose coverage and use that to move in the middle of a plan year.
These insurance people keep telling me to put into my HSA and I can use my HSA as an IRA. In all honestly I have very little medical costs each year. The highest costs I've had was braces for my daughter where my dentist wanted 5K, I gave him my middle finger and I got invisiliners from Mexico for $1,500.
Is there some way to take out from the HSA w/o it being medical? Is there some "legal" way to pull from the HSA. Because that would be wonderful?
Someone explain this HSA tax-credit hack to me?